Funding you earn now, next payment 05:00 UTC−0.0003%/8h= −0.4% APRpaid last 24h −0.001%
Price spread now: QFEX against Phemex+0.249%7-day average +0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$110as in the Price arb table
costs, in and out, $10k−$1331.334% of the position
Funding, last 4 days (all we have)−0.019%−$2 on $10k
+Price spread, last 4 days (all we have)−0.105%−$11 · spread now +0.249%, 7d avg +0.017%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.232% dearer against Phemex than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.017%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8150 | 0 | get 0.0000% / 4h | 3h 16m | $4.2M | $78K | 100x |
| Short | QFEX COPPER-USD | 6.8320 | −0.0003 | pay 0.0000% / 1h | 16m 56s | $1.5M | $129K | 20x |
Phemex COPPERUSDT
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.71
- Price spread: +0.249% → +0.017%
- $23.25
- Slippage, 4 orders
- −$111.45
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$110.91
- Costs to cover
- 1.334%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; QFEX: live order book, 5 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Phemex live order book, 2 min ago | 1.47 bp | 65.3 bp −$65 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 5 min ago | 2.19 bp | 7.2 bp −$7 | 11.3 bp −$113 | doesn't fit | doesn't fit |
COPPER on 28 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.0403% | 1h | 6.8283 | +0.194% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0056% | 1h | 6.8298 | +0.217% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USDshort | −0.0003% | 1h | 6.8320 | +0.249% | $1.5M | $129K | 20x | |
| Aster XCUUSDT | 0.0000% | 4h | 6.8344 | +0.285% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8326 | +0.258% | $9.1M | $32.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8282 | +0.194% | $489K | $972K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8200 | +0.073% | $1.3M | $505K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8330 | +0.264% | $26.1M | $4.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8310 | +0.235% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8343 | +0.283% | $741K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPERShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8352 | +0.296% | $97K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8320 | +0.249% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8380 | +0.337% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8150 | long leg | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8326 | +0.258% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0020% | 4h | 6.8339 | +0.277% | $95K | $319K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8430 | +0.411% | $478K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8334 | +0.270% | $266K | $2.6M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8324 | +0.255% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8325 | +0.257% | $45K | $23K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8309 | +0.233% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8299 | +0.219% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8291 | +0.207% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0051% | 4h | 6.8340 | +0.279% | $88K | $135K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8326 | +0.258% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | +0.191% | $291K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8380 | +0.337% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8319 | +0.248% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
BloFin COPPER-USDT
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP